Coinbase Ventures invested in CoinDCX, the Indian crypto exchange at a post-money valuation of $2.45 billion, reported Reuters. This follows on their participation in the April 2022 $135 million fundraise for CoinDCX, which had valued the firm at $2.15 billion post-money. reported Reuters According to Coinbase’s official announcement, “CoinDCX’s annualized group revenue is ₹1,179 crore (~$141M USD), annualized transaction volumes across products are ₹13.7 lakh crore (~$165B USD), and assets under custody are over ₹10,000 crore ($1.2B USD), and their user base exceeds 20.4 million.” Coinbase’s official announcement Coinbase Founder/CEO Brian Armstrong said, “There's rapid tech adoption in India and the Middle East, and already 100M+ crypto holders. Excited to do more in these markets and help to keep accelerating adoption. Coinbase is going global.” Brian Armstrong said CoinDCX Fonder/CEO Sumit Gupta said, “This isn't just about capital, it is about conviction in our long-term vision, our regulatory-first approach, and India and UAE's growing role in the global crypto movement. As we enter the next phase of growth, we remain committed to: Sumit Gupta said Innovating for India and the world: driving crypto adoption, new onchain use cases, and user experiences
Leading with compliance, transparency, and integrity and setting benchmarks for the industry
Educating millions: helping people participate confidently and safely in the digital economy.” Innovating for India and the world: driving crypto adoption, new onchain use cases, and user experiences Leading with compliance, transparency, and integrity and setting benchmarks for the industry Educating millions: helping people participate confidently and safely in the digital economy.”

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Coinbase Backs CoinDCX at $2.45B Valuation, Expanding Its Presence in India’s Crypto Market

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